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GlaxoSmithKline VC arm leads $35m Thrasos Therapeutics round

26 Oct 2012

The corporate venture arm of pharmaceutical giant GlaxoSmithKline has led a $35m financing round for kidney injury treatment company Thrasos Therapeutics.

Five venture capital firms also invested in Thrasos for the first time, comprising Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures.

SR One – GlaxoSmithKline’s corporate healthcare venture capital arm – led the round using capital from the GSK Canada Life Sciences Innovation Fund, which the company created to advance the development and commercialisation of scientific innovation in the country.

Jens Eckstein, president of SR One and lead investor of the financing, said “Thrasos’ lead therapeutic program for acute kidney injury has demonstrated strong potential in preliminary studies and we are pleased to support this program and other potential opportunities in renal disease, a field of huge unmet medical need.”

Thrasos’ treatment targets kidneys that have stopped functioning properly, often following heart surgery, inflammatory disease, trauma or administration of contrast dye for medical imaging.

More than one million such patients are diagnosed in North America each year, all of whom experience some permanent loss of kidney function.

Last month SR One was among six new investors in a $28m round for light-sensitive orthopaedic implant pioneer IlluminOss Medical.

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